Finance Minister Michael Noonan has said a verdict by the ratings agency Moody’s is “important but not vital”.

Ireland is currently termed as “junk status”, but with a stable outlook.

The agency may move the country on to a more positive footing when they issue a verdict later today.

Mr Noonan said Moody’s was primarily concerned with the overall performance of the Eurozone.

“When we talk to Moody’s, their concerns still seem to be with the Eurozone as a whole rather than with Ireland in particular,” he said.

“Even if they don’t upgrade us, it’s not a reflection on the positioning of the Irish economy and the general international recognition that we’re growing again and that we’re a good mark for borrowing and for investment.” Source: The Irish Examiner.